Itr to be selected 3 or 4

one person has initiated his dental clinic last year has such income as well as short term capital gain dealing in shares occasionally.. there is only such two sources of income.. aggregate of both income is less than taxable limit.. which itr should be selected...?? please explain..

 

 

 

 

Replies (2)
Quick Summary
This discussion addresses which Income Tax Return (ITR) form is appropriate for an individual who started a dental clinic last year. Their income sources include clinic earnings and occasional short-term capital gains from share dealings. The aggregate income is below the taxable threshold. The consensus suggests ITR 3 is the correct choice as it accommodates both business income and capital gains, whereas ITR 4 is not suitable due to the exclusion of capital gains.

According to my opinion ITR 3 should be selected
ITR3 is suitable for this as his income involve both Business & Capital Gain. ITR4 is not applicable as Capital Gain portion is not there.

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